Agalarov announced plans for IPO Crocus Group

Crocus Group is considering the possibility of placing shares on the stock exchange (IPO), the president of the group, Araz Agalarov, said in an interview with RBC. “Now we are looking at proposals from various banks and investment companies,” he added.

According to Agalarov, it has not yet been decided whether the group will enter the stock exchange in whole or in parts and what package of shares can be offered to investors. It is planned to decide whether to conduct an IPO in the next two years, while this possibility is being discussed, he added.

When asked about the minimum valuation of a company for listing on the stock exchange, the businessman replied: “So the question is not worth it. In order for people to see what they are investing in, they must understand the result and the growth in the value of the shares. For this money you need to build something. It's a common investment story."

Agalarov founded Crocus International, which grew into the Crocus Group, in 1989 as a US-Soviet joint commercial venture. At first, the group's business was focused on exhibitions, trade in clothing and footwear, then it took up development, and since 2009, state contracts. All these years, Agalarov did not attract partners, the business actually remained a family business; Alagarov's son Emin holds the position of First Vice President of Crocus Group.